Poster boy for what happens when you don’t live within your means?
This is a big deal for real estate because this guy caters to wealthiest in the country and athletes. In Southern California, Newport Beach area, he was King. If this guy is out, that means, the Real Estate Cancer got into the most expensive and beautiful area by the pacific ocean.
The economy is imploding.
I see a family in that picture, and know that financial trouble usually spells a family falling apart. Hope the best for this young man on digging out, and hope that many chose to skip posting wisearse comments.
Being RICH and LIVING rich are 2 different things. This guy played the game like a fool. If he would have paid off his real estate as he acquired more and was only a little leveraged he would have been okay. But this guy spent it all, lived high, and fell far.
This guy is an idiot, he is still worth 78 bucks.
Can Billy Ray be far behind?
The $25-35 million he actually closed WAS the $45 million he was counting on, before the high end market imploded..
I’m always amazed by folks who think good times last forever, and that good times are proof of their brilliance.
I make these comments in love and hope.
Ye shall know them by their fruits (Mt. 7:16).
We can learn what God wants us to do, how he wants us to live, by reading the Bible; we can see it’s truth demonstrated around us, and use that for a learning tool for ourselves.
The Bible teaches that we should not spend more than we make and that we should not live beyond our means, financing our purchases by borrowing. If we take teaching to heart, and truly follow it (and it is a hard teaching to abide by), there’s no way, mathematically, that we can go bankrupt.
And that is not some finer point of theology. It’s very basic Christian thinking that can often be a hard pill to swallow, even for Christians.
Contrary to the teaching of some, all money and wealth is not bad or something to be avoided. In fact, we are commanded by God to provide for our families. There is no Biblical prohibition of acquiring quality wordly goods, which may be costly to purchase, but are well worth the price. But the moment we start having LIABILITIES and DEBT, we are straying from the straight and narrow path. If one truly IS WEALTHY and CAN AFFORD what one is buying, there would logically be NO NEED TO BORROW, one could pay cash. And then there will be NO BANKRUPTCY.
The book of Proverbs, of course, is infinitely valuable as a guide in the practical side of life.
Alec Baldwin and his wristwatch which is more expensive than the house you losers own: Super RE Agent Blake's movtivational speech in the screen version of David Mamet's Glengarry Glen Ross.
The wife is now available, and comes from money.
See ya!
His fair weather bride Robin left and divorced him.
What a Weiner. That is a HUGE amount of business for a Realtor.
It’s only the beginning of the fall for big ticket sales.
Number One could also be facing legal problems——if he assisted buyers in falsifying bank apps to get mortgages.
This was very prevalent in Cali during the real estate boom.
One recent cable documentary showed a latino who mowed lawns for a living residing in a posh million dollar home. He lied about his income on the app. When he could not pay up, he had to move out-—blaming everybody but himself for his losses.
I think the guy missed his calling. He should contact GQ and become a male model. Immediately.
He could have continued his normal spending habits, sent his wife on exotic vacations around the world, quaffed ale in Ireland, visited the Queen, golfed and not have had to change a thing.
Some people just don't understand 0bamanomics.
Yeah, right. As if he doesn’t have a couple of millions stashed in some off-shore accounts.
(At least I would...)